Three values, one report

[ZZGAMAZZ]

Its almost hard to believe but, from what I've seen on this forum, there is a huge number of appraisers that have never stepped outside of the form-filling world and the thought of a narrative report scares them. My first 6-7,000 reports were forms but the last 15 years and 2-3,000 of so have been all narrative formats. Some restricted reports only 3-4 pages + addenda and some 30 pages + addenda. I find the narrative format easier once you get the hang of it. From what I've seen of the new forms, a narrative would certainly be easier. A short, restricted narrative report for a divorce, trust, estate, etc. is much easier than a form.

My license expired last year; I'm officially retired but I still work for the local courts. They don't require a license, just competence in the field. My report format is provided by the court and most "reports" are only 1-2 pages, fill in a blank, plus your fee is hourly at the same rate as a typical lawyer.

What program did you use to write narrative reports? Were most of those reports based upon a standardized format, which you created? Can you share a black version of the form that the court requires, just for background? Thanks. BTW...$8000 to $10,000 reports!!!!!!

 

[Zoe]

A narrative report does not scare me.
The fact, though, is that 99.99 percent of res appraisal mortgage lending work, the clients will not accept a narrative report. And that is the realm the vast majority of res license appraisers work in

I wonder how many newbies doing res mortgage work did a narrative report per advice here only to have it rejected by the client.

I can see where a short narrative report would be easier.

You made a good point and Hatch and Shields have too. The OP should have known if this was going to a GSE or not when they accepted the assignment. The appraiser sets the scope of work. No problem with all the values being in one report but just knowing if client was intending to sell the mortgage or keep it in house would have helped a lot of trouble for the OP.

It is not like starting from scratch now, but it will take some work to combine the reports into one report.

 

[Zoe]

You have different property interests you are appraising so you have to be careful. Narrative report would be way easier. The OP seems they were scared about being misleading.

They thought more than one report would not be misleading.

 

[jay trotta]

What program did you use to write narrative reports? Were most of those reports based upon a standardized format, which you created? Can you share a black version of the form that the court requires, just for background? Thanks. BTW...$8000 to $10,000 reports!!!!!!

Can't answer for Mark or anyone else, a friend of mine (CG) & myself, developed one for my work years ago. We decided on a short & long form for residential services. As others have noted, once your use to them they are more efficient.
Your fee structure would be a business decision of yours, one fee for all is not realistic.

 

[Zoe]

You still have 2 reports floating around. You have to be real careful when you combine those reports into one report with revisions clearly disclosed and a bunch of narrative and new signature date.

You have to explain all the series of events that led to this revised report.

You may be on verge of retrospective value appraisal and new assignment. Don't let anything you learned since effective date influence you. LOL